New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-01-08
RUMORS ABOUTA SHIPPING FIRM

MR. DONALD ASSERTS THAT WALKER, DONALD CO.
ARE SOLvENT--Irs EXPLANATION.
There rumors yesterday afternoon that the
chipping 6rm OF Walker, Donald g. Co, No. 1873
pesr-st.. In trouble The Office in this oty is
branch of the firm, the main Office being in Glasgow,
and the rcpres entative here is John Donald. The
branch started II May last and the business
oharterng vesses for freight carrying. 1t was said
that Walker, Donald g. Co. were part owners in the
steamers CraiRindoran, Craighill, Westphaha and
Scotia. they were also the accredited owners OF
the steamer Caroline Miller until September last
The said that ing to the general depression
OF business expenses and debts had accumulated. Mr.
Donald was represented as having conference with
his creditors. and It said that a settlement
mutually satisfactory would probably be made. Mr..
Donald had planned to go to Glasgow to-day to con-
suit with the other members OF the frs, but yesterday
he Learned that Of the firm was on the way here
and he cancelled his passage the Germanic
James McCaldin of McCaldin Brothers. No. 10
Broad-st, said We are among tho creditors OF
Wa keI. Donald & Co.. but it is possible that mutual
set'enont will be arranged satisfactory to all. The
amount owing to Us Is about $4,000 bills tor TOW ing
and for coal. We advanced to John Donald some
money for the purchase OF the steamer Csrone Miller
IRON Sebastian Brown. and this il secured by bill OF
sale OF the vessel Dir. Donald has not only onr sym
pathies, bot hers are inclined to be friendly.
think that their ship property will more than meet
II cir indebtedness"
Mr. Thebaud, OF No. 81 Broad-st., who is Interested
in the steamer Callao, which Walker, Douad g. Co.
also Interested is sad to have claims TO the amount
of $4,000 lie sad; Z" regret the embarrassment
Of Donald. l don't know Low bis affairs will come
out, but hear he has good friends. However,
hold an attachment from the Canadian Bank upon
whatever property can be found here
John Donald said last evening: Tho firm of
Donald, Walker Co. IL perfectly solvent and is able
TO pay every cent t owes. We are what Is called
managing owners of certain vessels wlRch owned
b, vaions people the other side. Each ,rsse -
divided into sixty four shares aud forms sort OF stock
company or corporation. AS in all corporations. q
majority OF the shareOwners decide the TO be
urnue I of N
case OF three OF our vessels the majority OF the
shareo~ners are opposed to our p,licy and until the
dispute thus occdsonci is settled have refused 10
pay the bills OF the vessels. In ,eluence OF this
some OF the bills of the vessels have gone TO protest
But 1 repeat the firm Of Walker. Donald & Co. is not
embarrassed. The firm represents eight v,ssels and
only three concerned in th's dispute The state
ment attributed to Mr.. Thebaud all wrong he is
tue charterer the Callao. which built and there
a dispute about her. He has claim against the
vessel or myself The firm OF Walker. Donald s. Co.
has simply refused to pay all bills until the dispute il
settled. Mr. McCaldn is not a creditor Of the firm Of
Walker. Donald e. Co. He has bills against the
vessels but not against us az firm"